Allworth Financial LP Raises Stock Position in Boyd Gaming Co. (NYSE:BYD)

Allworth Financial LP boosted its position in shares of Boyd Gaming Co. (NYSE:BYD) by 3,333.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,030 shares of the company’s stock after acquiring an additional 1,000 shares during the period. Allworth Financial LP’s holdings in Boyd Gaming were worth $64,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of BYD. Parkside Financial Bank & Trust lifted its position in Boyd Gaming by 105.5% during the third quarter. Parkside Financial Bank & Trust now owns 411 shares of the company’s stock valued at $25,000 after purchasing an additional 211 shares during the last quarter. Belpointe Asset Management LLC lifted its holdings in shares of Boyd Gaming by 237.6% in the 1st quarter. Belpointe Asset Management LLC now owns 655 shares of the company’s stock worth $42,000 after acquiring an additional 461 shares during the last quarter. Quarry LP lifted its holdings in shares of Boyd Gaming by 130.3% in the 1st quarter. Quarry LP now owns 822 shares of the company’s stock worth $53,000 after acquiring an additional 465 shares during the last quarter. Sunbelt Securities Inc. bought a new stake in shares of Boyd Gaming in the 1st quarter worth approximately $86,000. Finally, Blue Trust Inc. lifted its holdings in shares of Boyd Gaming by 20,342.9% in the 4th quarter. Blue Trust Inc. now owns 1,431 shares of the company’s stock worth $87,000 after acquiring an additional 1,424 shares during the last quarter. Hedge funds and other institutional investors own 76.81% of the company’s stock.

Analyst Upgrades and Downgrades

BYD has been the subject of a number of recent research reports. Susquehanna restated a “neutral” rating and issued a $75.00 price objective (down from $84.00) on shares of Boyd Gaming in a report on Monday, February 12th. Stifel Nicolaus restated a “hold” rating and issued a $69.00 price objective on shares of Boyd Gaming in a report on Friday, January 5th. Truist Financial boosted their price objective on shares of Boyd Gaming from $76.00 to $80.00 and gave the stock a “buy” rating in a report on Friday, February 9th. Mizuho began coverage on shares of Boyd Gaming in a report on Tuesday, March 26th. They set a “buy” rating and a $80.00 price target for the company. Finally, Morgan Stanley upped their price target on shares of Boyd Gaming from $71.00 to $72.00 and gave the company an “equal weight” rating in a report on Tuesday, April 9th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Boyd Gaming presently has an average rating of “Moderate Buy” and a consensus price target of $76.30.

Boyd Gaming Stock Down 1.6 %

Shares of Boyd Gaming stock opened at $64.40 on Friday. The company has a current ratio of 0.89, a quick ratio of 0.85 and a debt-to-equity ratio of 1.65. The company’s fifty day simple moving average is $64.44 and its two-hundred day simple moving average is $61.83. The company has a market cap of $6.17 billion, a P/E ratio of 10.56, a PEG ratio of 3.07 and a beta of 1.60. Boyd Gaming Co. has a 12-month low of $52.42 and a 12-month high of $73.00.

Boyd Gaming (NYSE:BYD) last issued its quarterly earnings data on Thursday, February 8th. The company reported $1.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.43 by $0.23. The business had revenue of $954.41 million for the quarter, compared to the consensus estimate of $928.04 million. Boyd Gaming had a net margin of 16.58% and a return on equity of 36.97%. The company’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.72 EPS. Research analysts anticipate that Boyd Gaming Co. will post 6.18 EPS for the current year.

Boyd Gaming Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Friday, March 15th will be given a dividend of $0.17 per share. This is an increase from Boyd Gaming’s previous quarterly dividend of $0.16. This represents a $0.68 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date of this dividend is Thursday, March 14th. Boyd Gaming’s payout ratio is presently 11.15%.

Insider Transactions at Boyd Gaming

In other news, major shareholder William S. Boyd sold 63,464 shares of the company’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $63.12, for a total value of $4,005,847.68. Following the sale, the insider now directly owns 8,795,449 shares of the company’s stock, valued at approximately $555,168,740.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, major shareholder William S. Boyd sold 125,000 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $63.77, for a total value of $7,971,250.00. Following the sale, the insider now directly owns 9,358,913 shares of the company’s stock, valued at approximately $596,817,882.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder William S. Boyd sold 63,464 shares of the company’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $63.12, for a total transaction of $4,005,847.68. Following the completion of the sale, the insider now directly owns 8,795,449 shares in the company, valued at $555,168,740.88. The disclosure for this sale can be found here. Insiders have sold 582,910 shares of company stock valued at $37,299,461 in the last three months. 27.94% of the stock is currently owned by company insiders.

Boyd Gaming Profile

Boyd Gaming Corporation, together with its subsidiaries, operates as a multi-jurisdictional gaming company in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi, Missouri, Ohio, and Pennsylvania. The company operates through Las Vegas Locals, Downtown Las Vegas, Midwest & South, and Online segments.